MANIMMO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-05-2026 PDF all 22 filings
Turnover
≈ €220,000
Estimated: probably between €150,000 and €380,000
EBIT margin
Not included in this filing
Net result
€6,636
2024 · -€18,905
Working capital
€475,295▲ 9.6%
2024 · €433,543
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€3,695
2025
20182025
Net result
€6,636
2025
20182025
Equity
€1.6m
▲ 0.4%
2025
20182025
Total assets
€1.7m
▼ 2.3%
2025
20182025
Debt
€84,437
▼ 35.8%
2025
20182025
Working capital
€475,295
▲ 9.6%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.04m--€0.03m▲ 14.6%-€0.03m▲ 17.6%-€0.04m▼ 48.6%-€0.02m▲ 43.3%-€0.01m▲ 54.7%-€0.02m▼ 144%€0.004m
Net result-€0.05m--€0.03m▲ 27.8%-€0.03m▲ 22.9%-€0.04m▼ 41.5%-€0.02m▲ 41.2%-€0.006m▲ 72.9%-€0.02m▼ 220%€0.007m
Equity€1.8m-€1.7m▼ 1.9%€1.7m▼ 1.5%€1.7m▼ 2.2%€1.6m▼ 1.3%€1.6m▼ 0.4%€1.6m▼ 1.2%€1.6m▲ 0.4%
Total assets€2.1m-€2.0m▼ 2.3%€2.0m▼ 1.7%€2.0m▼ 2.1%€1.9m▼ 1.4%€1.8m▼ 8.1%€1.8m▼ 1.3%€1.7m▼ 2.3%
Debt€0.3m-€0.3m▼ 4.6%€0.3m▼ 2.6%€0.3m▼ 1.7%€0.3m▼ 1.8%€0.1m▼ 52.8%€0.1m▼ 2.5%€0.08m▼ 35.8%
Working capital€0.7m-€0.7m▲ 0.9%€0.7m▼ 5.6%€0.6m▼ 9.3%€0.7m▲ 11.6%€0.6m▼ 17.3%€0.4m▼ 25.4%€0.5m▲ 9.6%
The operating result for 2025 is a profit of €3,695, after a loss of €23,448 in 2024. It is the highest result since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€1.2m ▼ 3.4%
Current assets
€520,338 ▲ 0.3%
Equity and liabilities €1.7m
Equity
€1.6m ▲ 0.4%
Debt
€84,437 ▼ 35.8%
Debt's share of the balance-sheet total falls from 7.5% to 4.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€61,108▲
2024 · €31,020
Cash flow
€64,049▲
2024 · €35,563
Current ratio
11.55▲
2024 · 6.10
Debt to equity
0.05▼
2024 · 0.08
ROE
0.4%▲
2024 · -1.2%
ROA
0.4%▲
2024 · -1.1%
Interest coverage
over 100▲
2024 · 81.92
Debt ≤ 1 year
€45,043▼
2024 · €85,020
Debt > 1 year
€36,404▼
2024 · €45,528
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €24,779 | - | €16,155 | €175,586 | €15,264 |
| Depreciation and write-downs of the year | €54,333 | €53,029 | €50,865 | €54,467 | €57,413 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52,694 | €52,213 | €52,245 | €54,333 | €53,029 | €50,865 | €54,467 | €57,413 | ▲ 5.4% |
| Other operating charges640/8 | - | - | - | €11,543 | €11,899 | €13,287 | €14,866 | €12,096 | ▼ 18.6% |
| Gross operating margin9900 | €29,251 | €32,625 | €38,385 | €28,407 | €43,689 | €54,528 | €45,886 | €73,205 | ▲ 59.5% |
| Operating profit (loss)9901 | -€35,843 | -€30,601 | -€25,222 | -€37,469 | -€21,238 | -€9,623 | -€23,448 | €3,695 | - |
| Financial income75/76B | - | - | - | €1,000 | - | €4,219 | €4,922 | €3,232 | ▼ 34.3% |
| Recurring financial income75 | €29,292 | €427 | - | €1,000 | - | €4,219 | €4,922 | €3,179 | ▼ 35.4% |
| Non-recurring financial income76B | - | - | - | €1,000 | - | - | - | €53 | - |
| Financial charges65/66B | - | - | - | €617 | €553 | €496 | €379 | €291 | ▼ 23.2% |
| Recurring financial charges65 | €40,534 | €3,823 | €983 | €617 | €553 | €496 | €379 | €291 | ▼ 23.2% |
| Profit (loss) for the period before taxes9903 | -€47,085 | -€33,997 | -€26,205 | -€37,086 | -€21,791 | -€5,901 | -€18,905 | €6,636 | - |
| Profit (loss) for the period9904 | -€47,085 | -€33,997 | -€26,205 | -€37,086 | -€21,791 | -€5,901 | -€18,905 | €6,636 | - |
| Profit (loss) for the period to be appropriated9905 | -€47,085 | -€33,997 | -€26,205 | -€37,086 | -€21,791 | -€5,901 | -€18,905 | €6,636 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.1m | €2.0m | €2.0m | €2.0m | €1.9m | €1.8m | €1.8m | €1.7m | ▼ 2.3% |
| Fixed assets21/28 | €1.3m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 3.4% |
| Tangible fixed assets22/27 | €1.3m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 3.4% |
| Land and buildings22 | - | - | - | €1.2m | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 3.4% |
| Financial fixed assets28 | €0.005m | €0.005m | - | €0.05m | - | - | - | - | - |
| Current assets29/58 | €0.8m | €0.8m | €0.8m | €0.7m | €0.8m | €0.7m | €0.5m | €0.5m | ▲ 0.3% |
| Amounts receivable within one year40/41 | €0.003m | €159 | €0.005m | €0.001m | €0.001m | €0.002m | €0.003m | €0.002m | ▼ 11.4% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.001m | €0.002m | €0.003m | €0.002m | ▼ 11.4% |
| Cash at bank and in hand54/58 | €0.8m | €0.8m | €0.7m | €0.7m | €0.8m | €0.7m | €0.5m | €0.5m | ▲ 0.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0.004m | €0.003m | ▼ 24.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.1m | €2.0m | €2.0m | €2.0m | €1.9m | €1.8m | €1.8m | €1.7m | ▼ 2.3% |
| Equity10/15 | €1.8m | €1.7m | €1.7m | €1.7m | €1.6m | €1.6m | €1.6m | €1.6m | ▲ 0.4% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 1.2% |
| Amounts payable17/49 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | €0.1m | €0.08m | ▼ 35.8% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.05m | €0.05m | €0.04m | ▼ 20.0% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.05m | €0.05m | €0.04m | ▼ 20.0% |
| Amounts payable within one year42/48 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.09m | €0.05m | ▼ 47.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | ▲ 1.4% |
| Trade debts44 | €0.001m | €0.001m | €0.001m | €0.005m | €0.001m | - | €0.003m | €149 | ▼ 94.8% |
| Suppliers440/4 | - | - | - | €0.005m | €0.001m | - | €0.003m | €149 | ▼ 94.8% |
| Other amounts payable47/48 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.04m | ▼ 50.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.002m | - | €0.001m | €0.003m | ▲ 232% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€47,085 | -€33,997 | -€26,205 | -€37,086 | -€21,791 | -€5,901 | -€18,905 | €6,636 | - |
| + Depreciation and write-downs630 | €52,694 | €52,213 | €52,245 | €54,333 | €53,029 | €50,865 | €54,467 | €57,413 | ▲ 5.4% |
| Operating cash flow (approximation) | €5,609 | €18,216 | €26,040 | €17,247 | €31,238 | €44,964 | €35,563 | €64,049 | ▲ 80.1% |
| Investment in fixed assets (approximation) | - | -€1 | -€59,324 | -€72,779 | €48,000 | -€16,155 | -€175,586 | -€15,264 | ▲ 91.3% |
| Change in cash | - | €5,068 | -€45,046 | -€9,458 | €74,094 | -€123,094 | -€144,969 | €2,959 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as MANIMMO has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MANIMMO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for MANIMMO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-05-2026 | 2026-00106974 | |
| 31-12-2024 | micro format | 05-04-2025 | 2025-00065780 | |
| 31-12-2023 | micro format | 24-02-2024 | 2024-00036124 | |
| 31-12-2022 | micro format | 30-07-2023 | 2023-00301725 | |
| 31-12-2021 | full format | 21-08-2022 | 2022-20299852 | |
| 31-12-2020 | micro format | 23-08-2021 | 2021-51600298 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-47800567 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-51600049 | |
| 31-12-2017 | micro format | 04-07-2018 | 2018-28800300 | |
| 31-12-2016 | micro format | 01-08-2017 | 2017-40100479 |